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$122.3M Project - Mixed use real estate development - Beacon, NY
Investment Info:
Other other investment.
Purchase price: $122,300,000
Contributors:
Vincent Ribes
Mixed use real estate development in Beacon, NY.
Phase 1: 3 buildings
Phase 2: 8 buildings
-Investment Terms-
Type: Secured loan and preferred equity in the GP
Size: $10,000,000
Interest: 8% p.a. Accrued
Profit Split: 25% of GP net profits after return of capital and interest.
Forecasted IRR : 32.5% annualized.
Forecasted equity multiple: 2.77x
Exit: Q4 2026
Collateral: 1st mortgage*
Use of funds: acquisition of land and certain pre-development expenses.
![](https://bpimg.twic.pics/no_overlay/uploads/investment_image/image/90950/image.jpg?twic=v1/output=image/contain=666x500)